On May 10, 2021, Larry purchased and placed in service a pickup truck (GVWR 7,000 lbs. and a 7-ft. bed). The selling price was $12,000. He received a trade-in allowance of $2,000 on his old truck and received a loan for the $10,000 balance. He had an adjusted basis of $3,000 in his old truck. He used the old and new truck 90% for business. Taxable income from his business for 2021 (before the Sec. 179 election) was $50,000. Larry did not place any other assets in service in 2021. What amount may Larry take as a Sec. 179 deduction in 2021? O $12,000 $10,800 O $10,100 $9,000